This mutual fund turned Rs 10,000 SIP into over Rs 1 crore in 18 years

The scheme invests in companies that seek growth in revenues arising out of demand from the younger generation (GenNext) for their products or services or if they are engaged in manufacturing products or rendering services that go directly to the consumer. Additionally, these products and services should have a distinct brand identity, thereby enabling choice, the mutual house mentioned.

The Net Asset Value (NAV) of the fund as of August 2, 2023, is Rs 159.60 for the growth option of its regular plan. The expense ratio of the fund is 1.92 percent for a regular plan as on June 30, 2023, and attracts 1 percent exit load for redemption/switch-out of units on or before 30 days from the date of allotment. In the case of a direct plan, the expense ratio is 0.86 percent.

Any income received under this option would be considered as income for the investors and hence would be taxed at applicable tax slab rates.

Investment performance: The Income Distribution Cum Capital Withdrawal (IDCW) plan of this scheme has distributed income to its investors out of its earnings, from time to time. The details of the same are tabulated:

The fund managers for the scheme are Chanchal Khandelwal and Dhaval Joshi. Khandelwal has been a part of the Aditya Birla Group for 15 years, with nearly a decade with ABSLAMC. He was part of the strategy and finance team at Aditya Birla Group.

Joshi has an overall experience of 15 years in equity research and investments. Prior to joining Aditya Birla Sun Life AMC Limited, he was associated with Sundaram Mutual Fund (India) Ltd. for around 5 years.